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Possible Bullish Inside Day Candle Pattern Detected for Cigna Corp (NYSE:CI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cigna Corp (NYSE:CI) based on the price action in the company's shares. Yesterday's price range of $160.90 and $164.89 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Cigna Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Cigna Corp has traded in a range of $158.00 to $226.61 and closed yesterday at $163.82, 4% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.2%.

Cigna Corp (NYSE:CI) has potential upside of 31.0% based on a current price of $163.82 and analysts' consensus price target of $214.53. The stock should find initial resistance at its 50-day moving average (MA) of $173.71 and further resistance at its 200-day MA of $190.51.

Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments.

SmarTrend is tracking the current trend status for Cigna Corp and will alert subscribers who have CI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle cigna corp

Ticker(s): CI